The Denmark based Green Organic Dutchman and Knud Jepsen cannabis production joint venture will initially consist of a 37,500 square feet phase one production facility
(TSX:TGOD) (OTCQX:TGODF) announced Tuesday that it has secured a cultivation license for Denmark from the Danish Medicines Agency.
The Danish government body responsible for issuing cannabis-related licenses, has granted an “initial cannabis business authorization” to Green Organic Dutchman’s joint venture production partner Knud Jepsen.
The Green Organic Dutchman is widening its reach in Europe through its pact with Danish cannabis company Knud Jepsen.
READ: The Green Organic Dutchman Holdings gives clarification about potential operations in Greece
The license will allow Kund Jepsen to immediately import starting materials and begin research and development related to the creation of elite cannabis genetics.
The company said Knud Jepsen will submit a request to the Danish Medicines Agency for the assignment of this license to the TGOD-Knud Jepsen Danish joint venture, a process that is already underway and expected to be completed within the coming weeks.
The initial license, issued under the Danish Medicines Agency's Development Scheme, enables the importation of starting materials, the receipt, possession, cultivation and processing of cannabis, and distribution and export of analytical samples to foreign labs.
After the cultivation and harvest of three consistent crops, an additional authorization license will be issued allowing for the sale of authorized medicinal cannabis products.
"We are incredibly pleased with the quick receipt of this license from the Danish Medicines Agency," said Knud Jepsen CEO Frands Jepsen. "The initial license was received promptly after the submission, and the Danish Medicines Agency provided great transparency during the process. Through 80 years of trusted operations in Denmark, we've built excellent relationships with all parties involved and plan to work closely with the Development Scheme."
READ: The Green Organic Dutchman pushes into Europe thanks to new pact with Knud Jepsen
Denmark-based Green Organic Dutchman and Knud Jepsen cannabis production joint venture will initially consist of a 37,500 square feet phase one production facility with an expected annual capacity of 2,500 kgs per year with a focus on supplying the Danish medical market.
The hybrid greenhouse facility will be located within Knud Jepsen's large-scale operations in Hinnerup, Denmark. The company said the property includes “significant room” for expansion on Knud Jepsen's land as “additional global markets open.” The previously contemplated 25,000 kg of production in Denmark will shift to various lower cost production jurisdictions throughout Europe.
The Green Organic Dutchman Holdings will have the exclusive right to all cannabis-related production from the joint venture through a guaranteed offtake agreement.
"TGOD is working with Health Canada to export starting materials from Canada into Denmark and we look forward to accelerating our expansion throughout Europe," said Green Organic Dutchman CEO Brian Athaide.
Headquartered in Toronto, The Green Organic Dutchman boasts operations focused on medical cannabis in Canada, Europe, the Caribbean and Latin America, as well as the Canadian recreational market.
Established by Dutch founders, the company grows organic cannabis in high-technology, eco-friendly and sustainable facilities.
Contact Uttara Choudhury at [email protected]
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